Governor Wolf has announced that, over the next three months, businesses that collect Pennsylvania sales tax will not have to make Accelerated Sales Tax prepayments. In addition to this waiver, the state's Department of Revenue had also already extended the deadline to file state personal income tax returns by 90 days, extended the deadline to file informational returns related to PA S corporations, partnerships, and estates and trusts and extended the due date for corporations with tax returns due in May.

As the coronavirus pandemic continues to create unprecedented challenges for employers across Pennsylvania and the nation, state unemployment compensation programs are serving as important systems through which financial support is being driven out to individuals. To better understand the significant legislative and policy changes being implemented at both the state and federal level, the Pennsylvania Chamber Educational Foundation is presenting a free 1 hour webinarthis Thursday, April 16 from 1:30 p.m. to 2:30 p.m. as a public service to review the latest developments, explain the details and to get your questions answered. Click HERE for more information or to register.

Members of the

Chambers of the Alleghenies

Bedford, Blair, Cambria, Huntingdon and Somerset Counties

are invited to a ZOOM Meeting with the

US Chamber of Commerce.

Thursday, April 16th - 1:00 p.m.

This event will provide information about the CARES Act and loan/assistance information for small businesses through the Paycheck Protection Plan (PPP) and Economic Injury Disaster Relief (EIDL.) Q&A will be available as well.

While Gov. Tom Wolf is now working with other states on a coordinated regional plan for reactivating their economies, the GOP-controlled House of Representatives is upping the pressure on the governor to adopt a Pennsylvania-centric strategy that would allow more of its businesses to reopen now. The House on Tuesday passed Senate Bill 613 on a 107-95 near party-line vote that would have the effect of scrapping the governor's more restrictive list of life-sustaining businesses allowed to be open during the COVID-19 crisis. In its place, the legislation requires the governor to immediately plan to allow businesses that conform with the Centers for Disease Control and federal Cybersecurity and Infrastructure Security Agency's guidance to reopen. The measure now goes to the Senate for concurrence. The Senate is going to come into session on Wednesday. A spokeswoman for Gov. Tom Wolf said the governor will consider the bill once it reaches his desk. But during a phone call with reporters on Wednesday afternoon, the governor said, "If we don't do this right, the economy is going to be in even worse shape than it is now."

Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.

With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this week, this new tool will help address key common questions. Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with.

The U.S. Small Business Administration is offering designated states and territories low-interest federal disaster loans of up to $2 million for working capital to small businesses suffering substantial economic injury as a result of COVID-19. The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act has allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to eligible small businesses during this time.